Suntech Response to Final U.S. ITC Decision

Suntech Response to Final U.S. ITC Decision
PR Newswire
SAN FRANCISCO, Nov. 7, 2012
SAN FRANCISCO, Nov. 7, 2012 /PRNewswire/ -- Suntech Power Holdings Co., Ltd.
(NYSE: STP), the world's largest producer of solar panels, offers the
following statement regarding the U.S. International Trade Commission's (ITC)
final ruling regarding countervailing duties (CVD) and anti-dumping duties
(AD) on crystalline silicon photovoltaic cells imported from China.
"The continued growth of trade barriers represents a serious challenge to the
U.S. solar industry, for American jobs, and for energy consumers globally.
SolarWorld's hypocritical campaign has forced the fast-growing American solar
industry to foot the bill for SolarWorld's competitive failures. Further
damage can be prevented if governments engage in constructive dialogue to roll
back protectionist barriers that limit our industry's ability to compete
against fossil fuels. As a U.S. manufacturer and global company, Suntech will
continue to oppose unnecessary solar taxes and promote affordable solar energy
everywhere," said E.L. "Mick" McDaniel, Managing Director of Suntech America.
"However, we are pleased with the ITC's final ruling to reject Commerce's
critical circumstances decision and remove the 90-day retroactivity of
tariffs. It was apparent to everyone within the solar industry that heightened
market demand in Q4 2011 was driven by the expiry of the 1603 cash grant
program," added Mr. McDaniel.
"As a global company with global supply chains and manufacturing in China,
Japan, and the U.S., we remain committed to our U.S. customers and will
continue to supply hundreds of megawatts of high-quality, affordable solar
panels that will not be subject to these U.S.-China tariffs," continued Mr.
McDaniel.
About Suntech
Suntech Power Holdings Co., Ltd. (NYSE: STP) is the world's largest producer
of solar panels for residential, commercial, industrial, and utility
applications. With regional headquarters in China, Switzerland, and the United
States, and gigawatt-scale manufacturing worldwide, Suntech has delivered more
than 20 million photovoltaic panels to over a thousand customers in more than
eighty countries. Suntech's pioneering R&D creates customer-centric
innovations that are driving solar to grid parity against fossil fuels.
Suntech's mission is to provide everyone with reliable access to nature's
cleanest and most abundant energy source.
For more information about Suntech's people and products visit:
http://www.suntech-power.com
Safe Harbor Statement
This communication contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar statements,
and includes Suntech's ability to provide hundreds of megawatts of supply not
subject to tariffs and the ultimate outcome of any decisions by the ITC and
DOC. Such statements involve certain risks and uncertainties that could cause
actual results to differ materially from those in the forward-looking
statements. Further information regarding these and other risks is included in
Suntech's filings with the U.S. Securities and Exchange Commission, including
its annual report on Form 20-F. Suntech does not undertake any obligation to
update any forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
For further information, please contact:
Walker Frost
Communications Manager
Tel: +1 (415) 268-8881
Email: walker.frost@suntech-power.com
SOURCE Suntech Power Holdings Co., Ltd.
Website: http://www.suntech-power.com